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January 12, 2024

Financial Issues To Consider When Doing International Acquisitions

Gentherm closed two deals in July of 2022. One was a German multinational that added to the company's automotive space. The other was a domestic acquisition in China for its medical business. The deal...

By Adam Burroughs

June 23, 2023

DealerShop Acquires Jobbers Automotive

DealerShop, Inc. and Resilience Capital Partners, a Cleveland-based private equity firm, announced it has acquired Jobbers Automotive, a leading full-service supplier of automotive paint, janitorial...

By Dan Pender

May 12, 2023

Cain Toyota and Cain BMW of North Canton Sold

Tim Lamb, President of the Tim Lamb Group, the largest auto dealership sales and acquisitions firm in North America, has brokered the sale of the Cain Toyota and Cain BMW Dealerships in North Canton,...

By Dan Pender

February 24, 2023

U.S. Steel Announces Supply Agreement with General Motors

United States Steel Corporation announced it will supply General Motors with its advanced and sustainable steel solution called verdeX® steel. The steel is manufactured with up to 75 percent fewer...

By Dan Pender

September 9, 2022

CorePower Receives Funding to Scale Up Revolutionary Magnetics

CorePower Magnetics, a startup that delivers magnetic solutions targeting electric vehicles (EVs) and the grid, has raised $2.5 million in pre-seed funding. The round was led by Volta Energy Technologies, as well as Evergreen Climate Innovations and Innovation Works....

By Dan Pender

November 23, 2021

MiddleGround Capital Acquires Mentor's Race Winning Brands

MiddleGround Capital, a private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, has acquired Mentor-based Race Winning...

By Adam Burroughs

June 3, 2020

Performance Dealerships buys Bobby Layman Cadillac GMC

The Performance Columbus Family of Dealerships including Honda Marysville, Honda Marysville Motorsports, Toyota Direct and Performance Chrysler Jeep Dodge RAM (Georgesville & Delaware) has acquired Bobby Layman Cadillac GMC of Fairfield County, Ohio....

By Jayne Gest

June 2, 2020

Volkswagen’s $2.6B investment in Argo AI closes

Volkswagen AG’s investment in Argo AI has closed, which solidifies the Pittsburgh-headquartered business’s capital position and differentiates it as the only self-driving technology platform company with partnerships and commercial agreements, via Ford and Volkswagen, for deployment across the U.S. and Europe....

By Jayne Gest

May 11, 2020

Edge Case Research Raises VC Funding

Edge Case Research Inc. recently raised $8 million in venture funding from undisclosed investors, PitchBook reports. The Pittsburgh company is developing vehicle safety systems intended to make autonomous vehicles safe....

By Jayne Gest

April 1, 2020

Resilience Capital Partners invests in Leader Auto Resources

Leader Auto Resources and Resilience Capital Partners are partnering to expand LAR’s auto dealership sourcing and service business in the U.S....

By Adam Burroughs

March 17, 2020

Dealer Venom purchases WebKite tech

Dealer Venom has acquired the technology from WebKite Inc. With this transaction, Dealer Venom further extends its reach in the digital automotive retail space and lays the foundation to expand its offerings....

By Jayne Gest

February 26, 2020

Crash Champions buys Auto Body Collision & Glass

Crash Champions, a Chicago-based collision repair group, will acquire Auto Body Collision and Glass, a three location collision group in Columbus. Crash Champions will begin operations at these locations on March 2. The transaction marks the first out-of-state acquisition for the organization....

By Jayne Gest

February 12, 2020

Altoona Honda under new ownership

Bill Barnes and Paul Ritchie recently sold Altoona Honda to Timbrook Automotive, which has 11 dealerships throughout Maryland, Virginia and West Virginia. This is Timbrook’s first location in Pennsylvania....

By Jayne Gest

February 12, 2020

Gridiron Capital Completes Sale Of Dent Wizard To Dealer Tire

Gridiron is making a significant new investment in the combined platform alongside the majority shareholder, Bain Capital, the Mueller family and the management team....

By Mark Scott

January 28, 2020

Dealmaking Is A Way Of Life For Ken Ganley, Bob Serpentini

Bob Serpentini and Ken Ganley are always ready to make a deal, and their recent acquisition of three Pat O’Brien Chevrolet dealerships is a perfect example of the duo’s go-big-or-go-home mentality....

By Mark Scott

January 16, 2020

Serpentini, Ganley Partner To Buy Three Pat O'Brien Dealerships

Bob Serpentini, in conjunction with partner Ken Ganley, has acquired three Pat O’Brien Chevrolet dealerships in Medina, Westlake and Willoughby. The deal, effective immediately, creates the largest Chevrolet dealership group in Ohio and one of the largest in the country....

By Mark Scott

January 15, 2020

Turnspire Capital Buys MPI Holdings

Founded in 1969, MPI is a Tier 1 supplier of high-precision, fineblanked metal components, and is a leader in safety and mission-critical automotive and industrial parts....

By Mark Scott

January 15, 2020

Amynta Completes Deal To Buy American AutoGuardian

The AAGI acquisition is expected to further solidify Amynta's market leading position, now serving approximately 15,000 dealerships in the U.S. and Canada....

By Mark Scott

January 14, 2020

Weinberg Capital Completes Exit Of AeroRepair

During Weinberg Capital's ownership, AeroRepair grew from a single facility located in New Hampshire to the largest independent wheel and brake maintenance, repair and overhaul platform in North America....

By Mark Scott

January 7, 2020

Goodyear Launches New Venture Capital Fund To Advance Future Mobility

Goodyear Tire & Rubber Co. announced a new venture capital fund, Goodyear Ventures, with $100 million targeted for new investments in future mobility solutions over the next 10 years....

By Mark Scott

January 7, 2020

Lear Corp. Invests In SV-Based Autotech Ventures

The investment is being made through Lear Innovation Ventures, which was launched one year ago, to identify advanced development teams and early-stage technologies and provide direct capital to innovation initiatives....

By Mark Scott

January 6, 2020

Dealer Tire To Buy St. Louis-Based Dent Wizard

The combination of the two companies is expected to create the leading aftersales dealer services platform in North America....

By Mark Scott

January 5, 2020

Penske Corp. Completes Deal To Buy Indianapolis Motor Speedway

Penske Corp. becomes just the fourth owner in the history of the famed Indianapolis Motor Speedway, which has hosted the world's largest single-day sporting event — the Indianapolis 500 Mile Race — for more than 100 years....

By Mark Scott

December 23, 2019

Rivian Closes $1.3B Investment Round

The financing was led by funds and accounts advised by T. Rowe Price Associates Inc. Amazon, Ford Motor Co. and funds managed by BlackRock also participated in the round....

By Mark Scott

December 23, 2019

J.D. Power Buys Trilogy Automotive

Trilogy’s SaaS-based enterprise lead management platform will be integrated into J.D. Power’s Autodata Solutions division’s original equipment manufacturer digital dealer platform....

By Mark Scott

December 16, 2019

Goodyear To Buy Raben Tire

Founded in 1952, Raben is one of the largest tire and service companies in the Midwest and has vast operations that include over 30 commercial and consumer tire and service locations and retread production plants....

By Mark Scott

December 6, 2019

Vroom Closes $254M Series H Round, Plans To ‘Rapidly Expand’ Detroit Office

Vroom’s Detroit office is expected to significantly increase its product and engineering staff in 2020, as it accelerates investment in bringing all aspects of the car buying and selling experience online....

By Mark Scott

December 5, 2019

GM, LG Chem Form $2.3B Joint Venture In Lordstown

General Motors and LG Chem have announced plans to mass-produce battery cells for future battery-electric vehicles. Together, the companies will invest up to $2.3 billion through a new, equally owned joint venture company....

By Mark Scott

December 4, 2019

May Mobility Closes $50M Series B Round Led By Toyota

The Series B round brings May Mobility's total raised to $84 million to date and positions the company to further extend its leadership in the autonomous driving landscape....

By Mark Scott

November 21, 2019

Henniges Autmotive’s Larry Williams: Keys To Working Effectively With Private Equity Ownership

Larry Williams has used simple, honest dialogue to build strong ties with each PE firm that has owned Henniges Automotive....

By Mark Scott

November 7, 2019

GM Sells Lordstown Plant To Electric Vehicle Startup

Lordstown Motors Corp. plans to begin building the Endurance electric pickup truck in 2020 and locate its headquarters at the plant....

By Mark Scott

November 5, 2019

Germain Automotive purchases five dealerships

Germain Automotive, owned by Rick Germain, Paul Germain and John Germain, has acquired five Sonic Automotive dealerships located in the Georgesville Auto Mall at I-270 and Georgesville Road....

By Jayne Gest

October 30, 2019

BorgWarner Divests BorgWarner Morse TEC LLC To Enstar

In connection with the deal closing, Auburn Hills-based BorgWarner contributed approximately $172 million in cash to Morse TEC....

By Mark Scott

October 29, 2019

Safelite Group buys Quick’s Glass Service assets

Safelite Group, the Columbus-headquartered vehicle glass services and recalibration company and owner of Safelite AutoGlass, has acquired the assets of Quick’s Glass Service. The transaction will extend its footprint in the northern Central Valley of California....

By Jayne Gest

October 28, 2019

Huron Capital-Backed XLerate Group Makes Eighth Add-On Acquisition

Huron Capital formed XLerate in 2014 to pursue a buy-and-build strategy in the rapidly changing auction industry....

By Mark Scott

October 25, 2019

Columbus Fair Auto Auction purchased

The XLerate Group has acquired Columbus Fair Auto Auction, which joins XLerate’s group of auctions. This transaction bolsters the Indianapolis-based company’s presence in the critical Midwestern market and its capabilities to service large fleet/lease and financial institution customers....

By Jayne Gest

October 22, 2019

SureShade acquired by Lippert Components Manufacturing

Rodan Enterprises LLC, doing business as SureShade, has been acquired by LCI Industries subsidiary, Lippert Components Manufacturing Inc....

By Adam Burroughs

October 21, 2019

Nationwide invests in Upstream Security

Upstream Security, an Israel-based company that provides cybersecurity for connected vehicles, raised $30 million in a Series B funding round backed by a prominent syndicate of investors, including some of the world’s largest OEM automotive vehicle manufacturers, insurance and fleet operators....

By Jayne Gest

October 18, 2019

Always on the lookout for opportunities, Rhett Ricart sees talent as key

Rhett Ricart, who has bought and sold a number of dealerships over the years for Ricart Automotive, shares his M&A strategies and how the family business is tackling succession planning....

By Jayne Gest

October 17, 2019

Piston Group buys Marion Industries

Piston Automotive, a subsidiary of the Piston Group formed by Detroit businessman and NBA legend Vinnie Johnson, has acquired Ohio-based Marion Industries, a Tier 1 assembler of brake modules for Honda of America. The deal expands Piston Automotive’s footprint into the Central Ohio region and further diversifies the company’s growing list of OEM customers....

By Jayne Gest

October 9, 2019

MSX International Buys California-Based PTS

With the acquisition of PTS, MSX expects to strengthen its Channel Management product portfolio with PTS's suite of software tools, proven e-learning and training management platforms....

By Mark Scott

September 30, 2019

Autokiniton Completes Acquisition Of Tower International

AGG's Autokiniton US Holdings, Inc. subsidiary paid $31 a share in cash, or about $900 million after accounting for debt and pension liabilities. The deal was announced in July....

By Michael Marzec

September 26, 2019

Profit By Design buys DealerMax

The company will use the DealerMax brand to market its dealership training and F&I income development programs to an expanded network of dealerships nationally....

By Adam Burroughs

September 18, 2019

Commercial Vehicle Group buys First Source Electronics

New Albany-headquartered Commercial Vehicle Group Inc. has acquired substantially all of the assets and certain liabilities of First Source Electronics LLC, an electronics systems integrator in Elkridge, Maryland, for as much as $44.75 million, subject to certain targets. CVG expects the strategic acquisition to contribute to its long-term growth and allow it to enter the warehouse automation market....

By Jayne Gest

September 12, 2019

Fair Buys Canvas From Ford Credit

Ford Motor Credit Co. The agreement furthers Fair’s leadership position in the vehicle subscription category, enabling the company to continue to accelerate consumer adoption and expansion throughout the U.S....

By Mark Scott

September 10, 2019

Rivian Secures $350M Investment From Cox Automotive

This partnership marks Rivian’s third investment announcement of 2019, following a $700 million investment round in February led by Amazon, and in April, a $500 million investment from Ford Motor Co....

By Mark Scott

September 4, 2019

Safelite buys Auto Glass Specialists

Safelite® Group, a vehicle glass services and recalibration company and owner of Safelite® AutoGlass, has acquired the assets of Auto Glass Specialists. The single store location in Glenwood Springs, Colorado, will expand Safelite’s brick-and-mortar footprint in the area....

By Jayne Gest

August 26, 2019

Myers buys Tuffy

Myers Industries Inc. has acquired the assets of Tuffy Manufacturing Industries Inc., a warehouse distributor of tire repair equipment and supplies....

By Adam Burroughs

August 22, 2019

SpotHero Announces $50M In Series D Funding, Closing In On $1B In All-Time Sales

The company offers the largest place to buy and sell parking in North America and has helped digitize nearly 7,000 parking facilities in the U.S. and Canada....

By Mark Scott

August 20, 2019

Hicks Plastics Co. Bought By PE-Backed Sea Link International

Hicks Plastics is a Tier II provider of injection-molded and metallized automotive forward lighting components headquartered in Macomb, with a secondary facility located in Knoxville, Tennessee....

By Mark Scott